Collaborative Fund Advisors LLC Purchases New Shares in First Solar, Inc. $FSLR

Collaborative Fund Advisors LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,528 shares of the solar cell manufacturer’s stock, valued at approximately $696,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Woodline Partners LP grew its holdings in shares of First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after buying an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. raised its stake in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC acquired a new stake in First Solar during the 2nd quarter worth approximately $494,000. Finally, AXA S.A. lifted its position in First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after acquiring an additional 1,115 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $224.57 on Monday. The company has a 50-day simple moving average of $247.56 and a 200-day simple moving average of $231.89. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $24.13 billion, a PE ratio of 14.51, a P/E/G ratio of 0.50 and a beta of 1.73. First Solar, Inc. has a 52-week low of $159.85 and a 52-week high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.95 earnings per share. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. Evercore boosted their target price on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Mizuho increased their price target on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. UBS Group lifted their price objective on shares of First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings raised shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Finally, BMO Capital Markets cut their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.78.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Multiple law firms, including Rosen, Schall, Kaplan Fox, Pomerantz, and others, urged First Solar shareholders to act on a securities fraud/class action lawsuit ahead of the August 24 deadline. Article Title
• Negative Sentiment: A class action has already been filed alleging First Solar and certain officers violated Sections 10(b) and 20(a) and Rule 10b-5, increasing legal overhang on the stock. Article Title
• Neutral Sentiment: One market update noted First Solar stock recently fell in trading, with the decline adding to near-term weakness already reflected in the shares. Article Title

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 4,815 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the sale, the chief executive officer owned 89,033 shares in the company, valued at $22,029,435.19. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kuntal Kumar Verma sold 582 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the completion of the transaction, the insider directly owned 4,967 shares of the company’s stock, valued at $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 32,466 shares of company stock worth $8,014,105. Corporate insiders own 0.39% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.